InsiderFinancial

$SEDG Breaks Out, New Highs Likely

Long
NASDAQ:SEDG   SolarEdge Technologies, Inc
$SEDG has broken out of its channel after delivering a strong Q4 earnings beat. SolarEdge Technologies (NASDAQ:SEDG): Q4 Non-GAAP EPS of $1.65 beats by $0. 40 ; GAAP EPS of $1.03 misses by $0.02. Revenue of $418.2M (+58.6% Y/Y) beats by $4.4M.

SolarEdge (NASDAQ:SEDG) reports Q4 beats with 59% Y/Y revenue growth. Solar product revenue totaled $389M, up 60% Y/Y.

Gross margin was 35.5%, up from 30.9% in last year's quarter. Gross margin for the solar business was 37.8%, up from 32.8%.

Operating expenses rose 15% to $63.1M.

The Q1 outlook sees revenue of $425-440M (consensus: $389.26M), solar product revenue of $405-415M, and gross margin of 32-34%.

The best trade setup is a buy above yesterday's high of $128.80 a share. We will be watching.

As always, trade with caution and use protective stops.

Good luck to all!
To receive our alerts via email and SMS, join Insider Financial for Free at https://signup.insiderfinancial.com

We are not financial advisors. Always conduct your own research and read our full disclaimer at https://insiderfinancial.com/disclaimer/